Premiere Elements crashes after 2 min. what's going on?

Question

I've been working with Premiere Elements about a month now. Initially it was very slow so I upgraded my memory and used Adobe's advice for optimal playback. That seemed to clear things up. However in the past couple days it will crash after about 2 minutes of being open. It never fails. Sometimes it will give me an error message and other times it will just freeze.
This is the error I'll sometimes get:
Any help or suggestions would be greatly appreciated. Thanks!

Answer 1

Here are more details:
System:
HP desktop computer
Windows XP Professional version 2002 with Service Pack 3
Intel Celeron processor CPU 3.06 GHz
2 GB of RAM (maximum)
Single monitor
Display Adapter:
ATI RADEON XPRESS 200 Series, version 8.30.0.0, 9/8/2006
Audio:
Realtek High Definition Audio. Version 5.10.0.5283, 8/1/2006
Location 65536 (Internal High Definition Audio)
Legacy Audio Drivers and Video Capture Devices
QuickTime 7.6.5
Disk drives:
A:\ Floppy disk drive on standard floppy disk controller
C:\ 35 GB free out of 75 GB total. Microsoft driver version 5.1.2535.0, 7/1/2001. Write caching enabled.
D:\ LITE-ON CD-ROM, Microsoft 7/1/2001
Virtual Memory:
Process Scheduling: Programs
Memory Usage: Programs
Virtual Memory: 1344 MB. (Maximum is 2688 MB, recommended is 2877 MB)
Display:
32 bit color
DPI setting: Normal
Font size: Normal
Programs running in the background:
LINK Client Manager
VIPRE Virus Protection
Process Explorer Screenshot:
I've also attatched the DxDiag text file.
I haven't found any errors today, even though it has crashed several times, but I did find this error from last Friday (when all this crashing started happening):
These are the codecs for my file:
Here's the screenshot of my project:
Once I open that project, it has crashed within two minutes of it being open, even if I don't do anything. I don't have any special effects besides the titles. All I've been doing with this project is rearrange files within the timeline. So far I haven't had problems with other projects or files, but my other projects are under 1 minute and I have spent the majority of my time on this project and file.
What happens is the program sometimes just freezes (and I've let it sit to see if it would unfreeze itself, that works only about half the time). Other times it just shuts itself down with no error message. I've also received these two errors:
If I get the "Project Save Error" and I try to save it somewhere else, it still gives me the same error. The only way I can get out of that error is to shut down the program without saving.
This is what I've done so far:
Installed Windows updates (all critical updates installed except for Microsoft Office 2003 Service Pack 3)
Updated QuickTime
Cleaned up start-up programs
Turned off indexing
Deleted temporary files
Ran system virus scans
Defragmented my C:\ drive
Set priority level for Premiere Elements to AboveNormal.
I save all of my files directly onto my computer (not the network drives)
Any other suggestions?